Big tech shares linked to AI shed about $1.2tn as investors questioned lofty valuations amid signs of a US slowdown. The Nasdaq fell 4.6%, putting Wall St on course for its worst week since April. Declines were led by Nvidia, Microsoft and Apple, with sentiment turning against richly priced growth stocks.
US Congress has formally asked Andrew Mountbatten-Windsor to give sworn evidence about his dealings with Jeffrey Epstein, as part of an oversight inquiry into the financier’s network. The request piles pressure on him, coinciding with the formal removal of his title.
Nigel Farage demands a parliamentary commission into long‑running abuse cases, arguing the government’s national inquiry is slow and lacks transparency. Survivors’ groups fear delay. He says institutions failed victims and wants powers to compel evidence and publish findings swiftly.
Alan Carr has won The Traitors, outmanoeuvring the Faithfuls at the final vote. The outcome fuelled debate over the finalists’ judgement and strategy. After the win, bookmakers cut odds on him appearing on Strictly.
Rachel Reeves has asked the OBR to model income tax rises to help repair the public finances ahead of her fiscal plan. Options include adjustments to rates and thresholds. The Bank of England says uncertainty over possible rises is already weighing on growth.
The BBC faces claims of double standards after censuring newsreader Martine Croxall for reacting on air to the scripted phrase “pregnant people”. Critics say the corporation was less robust over a Panorama segment alleged to have misleadingly edited a Trump speech, prompting calls for a review.
Lucy Powell challenged Rachel Reeves’s tax plans, warning against an income tax rise to plug a £30bn fiscal gap. She urged sticking to manifesto pledges and delivering a “budget of fairness” that leaves people better off, while Reeves is making the case for tax rises to fund public services.
Boris Johnson urged BBC director-general Tim Davie to give a full account of the corporation’s handling of impartiality complaints or step down. MPs said the row, triggered by a presenter’s on-air remarks, has damaged trust and demanded clarity on how editorial standards are enforced.
New deputy leader Lucy Powell urges the PM and Chancellor to drop planned income tax rises, warning they would breach Labour’s manifesto and erode trust. She also backs scrapping the two-child benefit cap. Ministers hit back, saying circumstances have changed and Reeves has set out the case.
An administrative blunder at Wandsworth saw fraudster Billy Smith wrongly released; he later returned, grinning for cameras. A second inmate is still missing, prompting scrutiny of the MoJ and mounting pressure on the deputy PM over prison management.